Total monthly cost of ownership
Cost to Own a Home in Charleston, Illinois
A $134,000 home here costs
$1,384per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $689. The real number is $695 higher every month — 101% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Charleston against Coles County and Illinois
| Measure | Charleston | Coles County |
|---|---|---|
| Median home value | $133,700 | $121,900 |
| Median property tax | $2,978 | $2,494 |
| Effective tax rate | 2.227% | 2.046% |
| Median gross rent | $819 | $793 |
| Population | 17,212 | 46,689 |
The weather behind that power bill
Charleston sits in Coles County, which averages a high of 85.6°F in its hottest month and a low of 20.3°F in its coldest, with 36" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 1,116 cooling and 5,297 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Coles County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Coles County
Common questions
How much does it cost to own a home in Charleston?
A $134,000 home in Charleston, Illinois costs approximately $1,384 per month with 20% down at 6.66%. That is $689 principal and interest, $249 property tax, $52 homeowners insurance, $282 utilities and $112 set aside for maintenance.
What is the property tax rate in Charleston?
Charleston has an effective property tax rate of 2.227%, based on a median home value of $133,700 and median real estate taxes of $2,978. That is higher than the Coles County average of 2.046%.
What is the average home price in Charleston?
The median owner-occupied home value in Charleston, Illinois is $133,700, against $121,900 across Coles County.
Is it cheaper to rent or buy in Charleston?
Median gross rent in Charleston is $819 a month, against $1,384 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Charleston — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Illinois.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.